The Department of Labor (the
Department) has the authority, pursuant to section 408(a) of the
Employee Retirement Income Security Act of 1974 (ERISA) and section
4975(c)(2) of the Internal Revenue Code of 1986 (the Code), to
grant an exemption from all or part of the restrictions imposed,
respectively, by sections 406 and 407(a) of ERISA and from taxes
imposed by sections 4975(a) and (b) of the Code by reason of
section 4975(c)(1)(A) through (F) of the Code. On April 10, 1996,
the Department granted PTE 96-23 (61 FR 15975-01), Class Exemption
for Plan Asset Transactions Determined by In-House Asset Managers.
The class exemption permits various parties in interest to employee
benefit plans to engage in transactions involving plan assets if,
among other requirements, the assets are managed by an in-house
asset manager (INHAM). The amendment to PTE 96-23, among other
things, broadens the definition of INHAM to permit a greater number
of entities to take advantage of the relief provided by the
exemption, proposes relief for entities that are parties in
interest because they are
US Code:
29
USC 1108 Name of Law: Employee Retirement Income Security Act
of 1974
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.